Starbucks Co. (NASDAQ:SBUX) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lessened its stake in Starbucks Co. (NASDAQ:SBUX) by 4.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 334,245 shares of the coffee company’s stock after selling 17,113 shares during the quarter. Corebridge Financial Inc.’s holdings in Starbucks were worth $30,500,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Strategic Financial Concepts LLC bought a new position in Starbucks during the 4th quarter worth approximately $62,000. Arizona State Retirement System raised its position in shares of Starbucks by 0.8% during the 4th quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company’s stock valued at $29,881,000 after acquiring an additional 2,722 shares in the last quarter. West Michigan Advisors LLC bought a new position in Starbucks during the fourth quarter worth $265,000. Wernau Asset Management Inc. acquired a new position in Starbucks in the fourth quarter worth $258,000. Finally, Investment Management Corp of Ontario boosted its holdings in Starbucks by 48.6% in the third quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock worth $3,664,000 after purchasing an additional 12,300 shares during the period. Institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SBUX. BMO Capital Markets raised their price target on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Stifel Nicolaus lifted their target price on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Wells Fargo & Company upped their target price on Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. UBS Group raised their price target on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Finally, Barclays upped their price objective on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $106.12.

Starbucks Stock Down 2.2 %

NASDAQ:SBUX opened at $97.07 on Monday. The business’s 50-day moving average price is $105.41 and its 200 day moving average price is $99.41. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The firm has a market cap of $110.26 billion, a P/E ratio of 31.31, a PEG ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same period in the previous year, the company posted $0.90 EPS. Sell-side analysts expect that Starbucks Co. will post 2.99 EPS for the current year.

Starbucks Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.